These advancements demonstrate Banxa’s commitment to innovation and addressing the evolving needs of its partners and users in the crypto payments landscape.
Banxa Holdings is pleased to provide a business update and announce the engagement of a market maker.
Banxa continues to expand its partner network, bolstering transaction volumes with key industry leaders. Highlighting a select few partners below:
- SUI – A major Layer 1 blockchain and smart contract platform with over 8 million wallets and 218k daily active users, providing fast, private, and secure digital asset ownership
- Coinmama – A leading cryptocurrency exchange with 4 million users across 188 countries, facilitating seamless crypto trading
- Backpack – A non-custodial wallet based on the Solana and Ethereum blockchains, offering exclusive xNFT support
- Meld.io – empowering developers to build a Multi Vendor Fintech stack, facilitating diverse financial solutions
Banxa has made significant advancements across various aspects of its product offering, aimed at providing more value to its partners – creating deeper partnerships and improving the end user experience – translating to increased transaction volumes and profitability.
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- Partner-driven order pricing
Partners can now set and manage differentiated pricing for their users on a per-transaction basis in order to compete for new users or reward existing ones. Providing partners flexibility to take control of their user acquisition and retention goals
- Advanced webhook statuses
Banxa now returns more granular and frequent updates to the status of orders via its webhooks feature. Partners can get a deeper picture of what’s happening with the order of their users, allowing them to create more specific and customisable user communications and experiences
- Intelligent payment orchestration
Banxa has rebuilt its fiat payment management engine from the ground up, now with the ability to automatically route payment requests between acquirers, retry attempts, and providing users with pre-submission validation, significantly enhancing the percentage of successful transactions
- Embedded Crypto Strategy
Banxa has furthered its exploration into an embedded crypto future and how it can revolutionize global commerce and exchange of value by leveraging its payments and compliance infrastructure. The Company is currently working with select partners on a product rollout plan
Overall, these advancements demonstrate Banxa’s commitment to innovation and addressing the evolving needs of its partners and users in the crypto payments landscape.
Banxa has engaged Generation IACP Inc. (“IACP“) to provide services as a market maker in compliance with the policies and guidelines of the TSX Venture Exchange (“TSXV“). The objective of the engagement is to maintain a reasonable market and improve the liquidity of Banxa’s common shares on the TSXV.
IACP will receive a fee of C$7,500 plus applicable taxes per month. The agreement between Banxa and IACP is for an initial term of six (6) months and shall be automatically renewed for subsequent six (6) month periods (collectively, the “Term“) unless Banxa provides written notice of termination to IACP at least 30 days prior to the end of the Term or IACP provides a written notice of termination to the Company. Commencing on the first anniversary of the agreement, the fee payable to Generation will automatically increase annually by 3%.
No stock options or other compensation are being granted in connection with the engagement. IACP does not currently own any securities of Banxa, however, IACP and its clients may acquire an interest in the securities of Banxa in the future. IACP is an arm’s length party to Banxa. IACP will be responsible for the costs it incurs in buying and selling of Banxa’s common shares, and no third party will be providing funds or securities for the market making activities.
IACP is a Toronto-based, independently owned investment dealer and a member of the Canadian Investment Regulatory Organization and a member firm of the Toronto Stock Exchange and the TSXV.
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